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Nigerian stocks sink further as big bank shares lead retreat

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Big bank stocks including GTCO, FBN Holdings, Access and Zenith as well as MTNN set the decline in motion.

Nigerian stocks’ bearish run continued on Friday as the benchmark index dipped 0.19 per cent, which means equities have now fallen by 2.6 per cent week-on-week.

Market breadth, which weighs the level of investors sentiment towards trade, was negative as 18 laggards emerged against 13 risers. Champion fell to N2.40, losing 5.88 per cent. Courtville slumped to N0.37, recording 5.13 per cent slip. Chams closed at N0.21, going down by 4.55 per cent.In all, 181 million shares valued at N2.4 billion were traded in 4,019 transactions.

 

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